Correlation Between Shanghai Shibei and Lander Sports
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By analyzing existing cross correlation between Shanghai Shibei Hi Tech and Lander Sports Development, you can compare the effects of market volatilities on Shanghai Shibei and Lander Sports and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Shanghai Shibei with a short position of Lander Sports. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shanghai Shibei and Lander Sports.
Diversification Opportunities for Shanghai Shibei and Lander Sports
0.89 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Shanghai and Lander is 0.89. Overlapping area represents the amount of risk that can be diversified away by holding Shanghai Shibei Hi Tech and Lander Sports Development in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lander Sports Development and Shanghai Shibei is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Shanghai Shibei Hi Tech are associated (or correlated) with Lander Sports. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lander Sports Development has no effect on the direction of Shanghai Shibei i.e., Shanghai Shibei and Lander Sports go up and down completely randomly.
Pair Corralation between Shanghai Shibei and Lander Sports
Assuming the 90 days trading horizon Shanghai Shibei Hi Tech is expected to generate 1.25 times more return on investment than Lander Sports. However, Shanghai Shibei is 1.25 times more volatile than Lander Sports Development. It trades about 0.04 of its potential returns per unit of risk. Lander Sports Development is currently generating about 0.03 per unit of risk. If you would invest 17.00 in Shanghai Shibei Hi Tech on September 12, 2024 and sell it today you would earn a total of 3.00 from holding Shanghai Shibei Hi Tech or generate 17.65% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shanghai Shibei Hi Tech vs. Lander Sports Development
Performance |
| Timeline |
| Shanghai Shibei Hi |
| Lander Sports Development |
Shanghai Shibei and Lander Sports Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shanghai Shibei and Lander Sports
The main advantage of trading using opposite Shanghai Shibei and Lander Sports positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shanghai Shibei position performs unexpectedly, Lander Sports can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Lander Sports will offset losses from the drop in Lander Sports' long position.| Shanghai Shibei vs. Lander Sports Development | Shanghai Shibei vs. Everdisplay Optronics Shanghai | Shanghai Shibei vs. Shanghai Yaoji Playing | Shanghai Shibei vs. China Life Insurance |
| Lander Sports vs. Industrial and Commercial | Lander Sports vs. China Construction Bank | Lander Sports vs. Bank of China | Lander Sports vs. Agricultural Bank of |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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